Bubble
burst? What bubble burst? The danger in talking about local situations as if they
applied across the board is that real estate is always a local situation and what's
a bubble bursting in one area can be a time someone else's balloon is expanding
rapidly.

Take a look at these metro areas that were
the biggest value gainers in 2006, according the National Association of Realtors.

2006 biggest value gainers

Rank

Metropolitan statistical area

One-year appreciation (%)

1

Salem, Ore.

19.8

2

Virginia Beach-Norfolk-Newport News, Va.-N.C.

19.4

3

Spokane, Wash.

17.7

4

Salt Lake City, Utah

16.7

5

Eugene-Springfield, Ore.

16.7

6

Baton Rouge, La.

15.9

7

Gainesville, Fla.

15.9

8

Ocala, Fla.

15.5

9

Dover, Del.

14.7

10

Portland-Vancouver-Beaverton, Ore.-Wash.

14.7

Source: National Association of Realtors,
February 2007 Metropolitan Area Existing-Home Prices and State Existing-Home
Sales report

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